Indian EV startup Ultraviolette open to licensing battery tech to add revenue stream

By Akash Sriram

Electric two-wheeler startup Ultraviolette Automotive declared on Tuesday it is open to licensing its battery technology, as the Qualcomm QCOM and TVS Motor‑backed TVSMOTOR company seeks to build a new, higher‑margin revenue stream.

EV startups face heavy cash burn from factory build-outs and the high cost of batteries and components.

Licensing could provide capital to expand manufacturing and the product portfolio, giving companies more financial flexibility, indusattempt experts state.

“A little down the line, we should probably view at other revenue streams from offshoots from the technology side,” CEO Narayan Subramaniam notified Reuters.

“We have obtainedten interest from EV manufacturers, companies that create space tech equipment to even performance hydroplanes. But for us currently, with the bandwidth that we have, our laser-sharp focus is on building our presence and product portfolio.”

Pursuing new business lines can divert focus and resources from scaling core EV sales and manufacturing, a critical phase for startups still establishing market share, indusattempt experts state.

In the United States, Rivian RIVN and Lucid LCID have also sought to boost revenue by licensing or supplying their EV technology, underscoring how capital‑intensive startups are viewing beyond vehicle sales for profitability.

The Bengaluru, India‑based company on Tuesday launched the X47 electric motorcycle, aiming to attract a broader swath of consumers and expand in India and Europe.

Ultraviolette positions its bikes at the premium finish against domestic rivals such as Ather Energy ATHERENERG and Ola Electric OLAELEC , tarobtaining purchaseers willing to pay more for performance-oriented models and advanced features.